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    FISV   US3377381088

FISERV, INC.

(FISV)
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Fiserv : Canadian Credit Unions Select Fiserv to Meet Rapidly Changing Member Needs

05/06/2021 | 08:33am EDT

Canadian Credit Unions Select Fiserv to Meet Rapidly Changing Member Needs

May 6, 2021

HMECU, Northern Savings Credit Union and TCU Financial Group leverage technology from Fiserv to accelerate digital transformation with support from Celero

BROOKFIELD, Wis., May 6, 2021 - Fiserv, Inc.(NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Healthcare & Municipal Employees' Credit Union (HMECU), based in Hamilton, Ontario, Northern Savings Credit Union, based in Prince Rupert, British Columbia and TCU Financial Group based in Saskatoon, Saskatchewan, will use Fiserv technology to modernize operations and drive innovation.

The three credit unions, each with unique memberships and distinct needs, were all seeking a modern technology platform to increase flexibility, reduce operational costs and integrate third party services and solutions quickly. Additionally, these institutions wanted a long-term technology partner with a strong presence in Canada. Each credit union ultimately selected Fiserv and the DNA® core account processing platform, with implementation of the new technology to be led by Canadian financial technology provider, Celero.

HMECU recognized that they needed to grow beyond the traditional brick and mortar infrastructure their members had relied on for the last 86 years. To better serve the changing demands of their 10,000 members and best position themselves to attract younger members, the $250 million credit union decided to adopt an omni-channel approach.

"Our biggest challenge is to be able to serve members where, when and how they expect," said Jason Moran, COO at HMECU. "We chose Fiserv and Celero because we need partners with whom we can scale as we grow and who each had a long-term commitment to the Canadian market."

TCU Financial Group, which serves more than 14,000 members and has more than $770 million in assets, recognized small and medium sized businesses in their community were underserved and decided to offer a portfolio of business services specifically tailored for that segment.

"The world is changing rapidly, and member needs are changing as well," said Svjetlana Mestrovic, AVP of Systems Optimization and Integration at TCU Financial Group. "With DNA, we are able to customize our platform and quickly connect our members with relevant Fiserv and third-party solutions."

Demand for digital services and self-service capabilities dramatically increased among the 14,000 members of Northern Savings Credit Union due to the pandemic. The team at the $640 million institution is anxious to continue the acceleration of digital adoption.

"For the last few years, we were meandering down the road of digital transformation," said Bob Marshall, CEO at Northern Savings Credit Union. "Last year, we had to react quickly to the dramatic shift in member demand for digital services, and with Fiserv we will have a platform that is able to adapt as quickly as our members."

"The right technology foundation enables financial institutions to be nimble as they meet the evolving needs of their respective memberships," said Rob Palin, general manager, Canada at Fiserv. "Fiserv is committed to helping these credit unions innovate and remain competitive in an ever-changing banking landscape."

DNA is a modern core account processing platform with an open architecture that makes it easier for financial institutions to integrate third party solutions, bring products and services online quickly, and add new capabilities using downloadable DNAapps™. DNA also provides a 360-degree view of member relationships that enables financial institutions to deliver personalized service and more relevant product offerings.

The credit unions' transition to their new banking platform will be led by Celero, a firm with significant experience enabling credit unions across Canada to implement innovative banking technologies, including Fiserv solutions.

"An innovative and agile core banking platform is a significant and competitive differentiator for financial institutions," said Tom Papagiannopoulos, chief operating officer and senior vice president, customer delivery at Celero. "We are proud to have Fiserv as our long-standing partner in delivering DNA to more than a hundred institutions across Canada and look forward to successfully implementing the system at these three institutions."

In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today - financial services at the speed of life. Learn more at fiserv.com.

Additional Resources:

Credit Union Solutions from Fiserv - fisv.co/FiservCreditUnionSolutions

DNA from Fiserv - fisv.co/DNA

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing;

and the Clover® cloud-basedpoint-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE

World's Most Admired Companies ® . Visit fiserv.comand follow on social mediafor more information and the latest company news.

About Celero

Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero's proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services. Celero offers reliability and security through its world-class hosted banking system and data center operations. With key partnerships across the globe, Celero also brings the scale and extensive capabilities of multinational technology companies and the focused expertise of fintech startups. For more information, visit celero.ca.

# # #

Media Relations:

Marcus Hardy

Manager, Communications Fiserv, Inc.

801-823-5534 marcus.hardy@fiserv.com

Additional Contact:

Ann S. Cave

Vice President, External Communications Fiserv, Inc.

678-325-9435 ann.cave@fiserv.com

Disclaimer

Fiserv Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 12:32:05 UTC.


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Financials (USD)
Sales 2021 15 932 M - -
Net income 2021 1 755 M - -
Net Debt 2021 18 850 M - -
P/E ratio 2021 40,5x
Yield 2021 -
Capitalization 72 338 M 72 338 M -
EV / Sales 2021 5,72x
EV / Sales 2022 5,20x
Nbr of Employees 44 000
Free-Float 76,1%
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Technical analysis trends FISERV, INC.
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Mean consensus BUY
Number of Analysts 34
Last Close Price 108,49 $
Average target price 140,19 $
Spread / Average Target 29,2%
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Managers and Directors
NameTitle
Frank J. Bisignano President, CEO, COO & Director
Robert W. Hau Chief Financial Officer
Denis J. O'Leary Non-Executive Chairman
Guy Chiarello Chief Administrative Officer
Dennis Francis Lynch Independent Director
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